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To: ild who wrote (57324)	10/22/2002 11:35:54 AM
From: Jack of All Trades	Read Replies (1) \| Respond to of 209892

The seller could be selling a contract that has already been written...

To: ild who wrote (57324)	10/22/2002 4:56:03 PM
From: mishedlo	Read Replies (1) \| Respond to of 209892

Yes there is always a buyer and a seller. But who is the buyer and who is the seller? IMO It makes a differnce if it is the average retail investor buying those puts vs some institution. If it was the average investor, there is no way we going below QQQ 23 IMO. If it was institutional, then it was from someone who thinks he knows something or someone acting as a hedge. Perhaps someone needs to unload a ton of stuff and is buying puts into it. In either case this puts one hedge fund against another or against the option pits or the other institutional player. It is impossible to know the whole story. But IMO it mattes who bought and who sold and I assume the bigger fish always wins. Who was the bigger fish? That number of contracts traded in a single day looks institutional. But I still do not know what to make of it. If the numbers gradually buildup over time, I assume the buildup is not institutional. Someone in another post suggested that it could be intraday volume only. NOPE. OI was way up. Someone bought tons of those babies for sure. M